SYT Syngenta Ag (delisted)

By Brian Blackstone

ZURICH--Swiss seed and pesticide maker Syngenta AG (SYNN.EB, SYT) said Tuesday that it expects the regulatory approval process for its proposed acquisition by ChemChina to extend into early 2017 as regulators have requested a "large amount of additional information."

Previously, the company had expected the deal with China National Chemical Corp.--Chemchina's formal name--to close by the end of this year.

"In a context of industry consolidation, regulators in the [European Union] and elsewhere have recently requested a large amount of additional information, and we now expect the regulatory process to extend into the first quarter of 2017," Syngenta said. "ChemChina and Syngenta remain fully committed to the transaction and are confident of its closure."

Syngenta also reported third-quarter sales of $2.5 billion, down 3% from $2.62 billion during the same period in 2015 and broadly in line with analyst expectations.

In February, Syngenta agreed to be acquired by ChemChina for $43 billion in cash.

Write to Brian Blackstone at brian.blackstone@wsj.com

(END) Dow Jones Newswires

October 25, 2016 01:31 ET (05:31 GMT)

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